Joint Account vs. Authorized?
Thanks
Answers:
I have to disagree with the other posters.
I would have to think that none of them have ever had any experience in being an AU or having added someone as an AU to their accounts.
Being an authorised user WILL give you the same history and reporting benefits that being a joint does.
Being an AU, you have the option to be removed and will not be held responsible if that trade line takes a nose dive.
Being a joint user, you will be held responsible if the account takes a nose dive.
Most creditors do not notate on reports that the account is an AU account.
you both are treated equally.it just assures them that they would get there money back from one or even both.
Being joint will be more beneficial for your credit rating as legally you are both responsible for any debt. If you are only an authorised user the legal responsibility is all on the main card holder.
yes it's better to be joint, than authorized.
Joint means you OWN it.authorized means you just USE it...
So owning is always better than using...
There really is no difference.
If you are a authorized user on their card, and they don't pay, it goes on your credit also.
Once again Echo is correct.
There actually was a great article on Yahoo this morning about what they call "Piggybacking" and how it's effecting the mortgage market right now.
The FTC is looking into it and it may be illegal in the near future.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
More Related Questions and Answers...